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APACHE ACQUIRES HADSON ENERGY RESOURCES STOCK

 OKLAHOMA CITY, June 18 /PRNewswire/ -- Hadson Energy Resources Corporation (AMEX: HDX) announced that it has received notification today from Apache Corporation (NYSE: APA) that Apache has negotiated the private acquisition of approximately 4.2 million shares, or 68 percent, of the common stock of Hadson Energy for $14 per share in cash, subject to increase to $15 per share in the event that Apache acquires over 80 percent of Hadson Energy's outstanding voting securities during the next year. Apache indicated that the agreements were privately negotiated with Hadson Corporation, which holds 48.9 percent of Hadson Energy, and several large institutional and other shareholders. Apache also indicated that it intended to establish proportionate representation on Hadson Energy's board of directors and to propose a merger offer to all remaining Hadson Energy shareholders on substantially the same terms as those offered Hadson.
 Hadson Energy Resources Corporation is an energy company engaged in domestic and international crude oil and natural gas acquisition, exploration, development and production.
 -0- 6/18/93
 /CONTACT: William C. Rankin, senior vice president and chief financial officer of Hadson Energy Resources Corporation, 405-232-2212; or Warren C. Shimmerlik of Shimmerlik Corporate Communications, Inc., 212-247-5200/
 (HDX APA)


CO: Hadson Energy Resources Corporation; Apache Corporation ST: Oklahoma IN: OIL SU:

MP -- NY010 -- 3452 06/18/93 09:17 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
Words:218
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